I have traditionally mailed a check along with the birthday/Christmas cards to my daughter, SIL, and grandson. I have almost completely eliminated paper checks and would like to transfer this money electronically.

Any suggestions?

Depends on what they're set up to receive. If they're already established with a certain electronic payment system (like Paypal, Venmo, Zelle, etc.), then just use that to send the money. There typically aren't any fees for sending personal payments using these systems, just fees for business transactions involving paying for goods/services.

Otherwise, mailing them a prepaid Visa gift card is an alternative.

I use Zelle to send money to someone now and then. Never had a problem with it, and all it took to set it up was a few minutes and (IIRC) her cell number. The money just shows up in her checking account. Obviously she had to do something too on her end, not sure what that was (I've never received via Zelle, just sent). And I've used PayPal a few times, no issues there either.

I would ask them if they have Zelle or Venmo set up. Both are super easy to use. Just make sure you have the correct user name or phone number. If you type one number off your money can go who knows where. Also add happy birthday/ merry xmas/gift to the notes section to make sure they dont end up with any taxable income.

You can also send a gift card via email or text these days. Kids are very tech savvy. I did that for my niece at Christmas. You can send a card and note via text.

Everyone I know uses Venmo now

It's so much easier than cash or check

Zelle is owned by a conglomerate formed by Americas Banks for this purpose,

Venmo is owned by Paypal

Just so you know who owns what, both are safe methods of fund transfer from person to person.

quote:

Originally posted by Expert308:
I use Zelle to send money to someone now and then. Never had a problem with it, and all it took to set it up was a few minutes and (IIRC) her cell number. The money just shows up in her checking account. Obviously she had to do something too on her end, not sure what that was (I've never received via Zelle, just sent). And I've used PayPal a few times, no issues there either.

I use Zelle too. My bank offers it. It costs me nothing to use.

One IMPORTANT thing is to make sure the phone number you are sending it to is correct because it's like sending cash in an envelope or writing a check made out to cash. Whoever gets it has it.

I've not looked into Venmo because I have Zelle. I have also used Paypal to send money but, in my mind, Zelle is quicker and simpler as Zelle is just an option when I go to my bank's app.

Apple Cash.

And Zelle is much better integrated into the banks. I can go to my bank website and send money very easily. With Venmo, you have to get the money to Venmo, then use Venmo to do the transfer to the recipient. To me the first step is a waste of time for which there's no added benefit.

I actually do a lot of my business through Zelle.

quote:

Originally posted by HRK:
Zelle is owned by a conglomerate formed by Americas Banks for this purpose,

Venmo is owned by Paypal

Just so you know who owns what, both are safe methods of fund transfer from person to person.

To the point below, whenever I start doing Zelle transfers with a new party, I either send them a $1 test transfer, or have them do that in my direction. This way, if something is not set up right, significant money does not get hung up in transit.

quote:

Originally posted by Rey HRH:
<snip>

One IMPORTANT thing is to make sure the phone number you are sending it to is correct because it's like sending cash in an envelope or writing a check made out to cash. Whoever gets it has it.

<snip>

If both senders and recipients have Zelle (directly supported by their financial institutions of choice, rather than CC hookups): Then Zelle. (CC hookups incur fees.)

If both senders and recipients have Apple Cash: Then Apple Cash.

Otherwise: Venmo or PayPal. I've used both w/o issue.

quote:

Originally posted by HRK:
Zelle is owned by a conglomerate formed by Americas Banks for this purpose,

Venmo is owned by Paypal

Just so you know who owns what, both are safe methods of fund transfer from person to person.

I usually explain these two as Zelle operates 'within' the banking system as its owned by four large banks. Venmo has always operated as a separate entity outside the banking system. Zelle is more secure as a result. I use Zelle frequently but I will not use Venmo for a number of reasons.

quote:

Originally posted by BBMW:
... With Venmo, you have to get the money to Venmo, then use Venmo to do the transfer to the recipient. To me the first step is a waste of time for which there's no added benefit...

That is not correct. I have my Chase account linked to Venmo, and I can pay someone using Venmo and simply choose my Chase account as the source. I do NOT have to move it to Venmo first. I do not leave any funds in Venmo intentionally; if I am paid through Venmo I transfer it to my Chase account.

I have access to Zelle through Chase, but frankly it was more difficult to deal with than Venmo.

quote:

Originally posted by honestlou:

quote:

Originally posted by BBMW:
... With Venmo, you have to get the money to Venmo, then use Venmo to do the transfer to the recipient. To me the first step is a waste of time for which there's no added benefit...

That is not correct. I have my Chase account linked to Venmo, and I can pay someone using Venmo and simply choose my Chase account as the source. I do NOT have to move it to Venmo first. I do not leave any funds in Venmo intentionally; if I am paid through Venmo I transfer it to my Chase account.

Correct in every respect.

I've been using Venmo for a couple years--for both sending and for receiving money. Works well, IME.

TBH: The only reason I'd prefer Zelle be available to me is I prefer to avoid PayPal to the extent possible. But, even if my CU supports Zelle, some day, I'll still have Venmo--just as I'll retain PayPal. Some people use Zelle, some use Venmo, others use PayPal.

(I have dumped Apple Cash as part of my effort to disentangle myself from Apple to the extent possible.)

Apple Pay. As long as both of you have IPhones.

I'm surprised that nobody has mentioned Online Bill Pay. Most banks and credit unions offer this as a no-charge service. You can enter the recipient in your list of payees, and then it's simple to send a "payment" to them.

If the payee is a business that accepts ACH payments, it's done by electronic transfer. Example: I can pay my electric bill at Duke Energy this way.

If the payee is not set up to receive ACH payments, the bank (or a contracted processing center) just cuts a paper check and mails it. Example: I have bought things from SIGforum members using this.

quote:

Originally posted by Sigfest:

Apple Pay. As long as both of you have IPhones.

Tell me about this. Where does the payment go, on the recipient's end? Can s/he designate a bank account as the target?

quote:

Originally posted by V-Tail:

quote:

Originally posted by Sigfest:

Apple Pay. As long as both of you have IPhones.

Tell me about this. Where does the payment go, on the recipient's end? Can s/he designate a bank account as the target?

https://support.apple.com/en-us/HT207875

How to accept a payment
The first time that you use Apple Cash, you have seven days to accept the money that you've been sent. After you accept the terms and conditions, payments are automatically accepted and added to your Apple Cash card. You might be asked to verify your identity.

When someone sends you money, it's securely received and kept in Apple Cash. You can use the money right away1 to send to someone, spend with Apple Pay, or you can transfer the money to your bank account or eligible debit card.

If you send money to someone and they don't accept it, you can cancel the payment.

quote:

Originally posted by V-Tail:

quote:

Originally posted by Sigfest:
Apple Pay. As long as both of you have IPhones.

Tell me about this. Where does the payment go, on the recipient's end? Can s/he designate a bank account as the target?

I suspect what Sigfest actually meant was Apple Cash, which is part of one's Apple Wallet, not Apple Pay. Apple Pay is for use with PoS (point of sale) terminals, in place of a CC.

Apple Cash does work like BBMW incorrectly claimed Venmo does: You can have a cash balance in it. That can come from either people sending you Apple Cash or by adding it from a linked bank account. You can use an Apple Cash balance to send cash to others, receive cash, and even pay at PoS terminals if the vendor and terminal support Apple Cash as a payment method. You can transfer any or all of an Apple Cash balance into a linked bank account.

You also gain an Apple Cash balance via cash back using an Apple Card, which will be in your Apple Wallet, by default. You do have to activate Apple Cash to make that happen, however.

As with Venmo: When transferring cash to a linked bank account you can choose an immediate transfer for a fee, or a "when they get around to it" transfer at no charge.

Zelle is handy if your bank supports it. I think Venmo is functionally equivalent, but I haven't used it.